A SPECIAL meeting has been called by the Connemara Pony Breeders’ Society to discuss its ‘very serious financial situation’. It comes after the financial statements from 2023 showed a loss of €156,574.

The special meeting will be held in the Raheen Woods Hotel, Athenry, at 1pm on December 7th. It was first communicated to members that the meeting would be an EGM, but was later changed to a special meeting after members pointed out 21 days notice had not been given. It is understood an EGM is still on the cards and is expected to be held ahead of the AGM on January 12th.

A statement from the CPBS executive said: “The Society wishes to acknowledge the financial losses of €156,000 encountered in 2023, where the losses incurred significantly eroded the reserves that had been built up following the COVID-19 pandemic. The reserves of the CPBS were bolstered during the pandemic by government supports, which provided vital assistance during a difficult period.

“Since the new Council took office, a review of the Society’s financial processes has been undertaken. This review, combined with the tremendous support of breeders and the strong uptake in the colts and filly inspection process facilitated by this year’s amnesty, has contributed significantly to our recovery of the losses incurred. The large number of ponies presented, coupled with prudent spending controls, focused budgetary management for the annual show, and increased efficiency in passport processing, has enabled the Society to meet its obligations and reach the end of the year on a more stable footing.

“The Society is committed to engaging with our breeders and members to shape a sustainable and strategic plan. To this end, a special meeting will take place, providing an opportunity for breeders to have their voices heard and actively contribute to the Society’s future.”

The table left outlines a summary of the financial position, while a number of income and expenditure line items that changed significantly are as follows. Wages and salaries went from €184,363 to €238,052 reflecting an increase in staff members from six to eight. DNA testing costs went from €94,108 to €187,413. Show expenses went from €78,017 to €119,501. Bank charges went from €11,584 to €16,755. General expenses went from €2,082 to €13,643. Legal and professional fees decreased from €30,431 to €17,215. Government grants dropped from €174,668 to €152,880. Full financial statements can be found at cpbs.ie.